Pesapal has teamed up with KCB Bank Kenya to fundamentally transform the operations of fuel stations across East Africa. This collaboration is set to roll out Pesapal’s Forecourt Management Solution to over 10,000 fuel dealers in the region.
The core of this partnership is an integrated digital platform designed to combine cutting-edge operational technology with innovative financing models. The solution aims to modernize the petroleum retail sector by efficiently managing critical functions:
- Fuel Dispensing and Sales Monitoring: Streamlining the point-of-sale process.
- Inventory Tracking: Providing real-time, accurate stock management.
- Payment Processing and Financial Reconciliation: Eliminating manual errors and revenue leakage.
This technology directly addresses longstanding industry pain points like manual errors, inventory shrinkage, and limited access to working capital, positioning dealers for sustainable growth in the digital economy.
The partnership is a key component of KCB’s Oil and Gas Ecosystem and Value Chain Banking Proposition. By leveraging the real-time performance data generated by the Pesapal platform, KCB can:
- Accurately Assess Creditworthiness: Moving beyond traditional methods.
- Offer Tailored Financing: Providing stock financing and working capital solutions based on verified performance data.
Mrs. Annastacia Kimtai, KCB Bank Kenya Managing Director, highlighted the bank’s commitment:
“The rollout of this framework is a clear demonstration of KCB’s commitment to utilizing technology and innovation to provide holistic solutions to our customers in the oil and gas sector. We are going beyond financing to support operational efficiency, sustainability, and growth across the entire oil and gas value chain.”
Agosta Liko, Pesapal Founder, emphasized the solution’s transformative impact: “This partnership represents a transformative moment for East Africa’s petroleum sector… Our Forecourt Management Solution is purpose-built for Africa’s operating environment. Combined with KCB’s nationwide reach and innovative financing approach, we are enabling dealers to modernize operations, eliminate revenue leakage… and, for the first time, access growth capital based on verified performance.”